Canada Adds Nearly 41,000 Jobs to Economy as Unemployment Rises to 5.8 Percent

Canada’s unemployment rate rose to 5.8 percent in February, despite an additional 40,700 jobs being added to the labour market, Statistics Canada data show. February’s increase in jobs was attributed to a rise in full-time work, much higher than the 20,000-job increase economists predicted, StatCan said. Job gains were spread across a number of industries in the services-producing sector, with accommodation and food services recording the strongest employment growth. The rise in jobs last month follows January’s 37,300 uptick in jobs due to an increase in part-time work. Meanwhile, Canada’s unemployment rate was 0.1 percent lower last month at 5.7 percent. The rise in unemployment comes the same week the Bank of Canada announced it would hold its benchmark interest rate at 5 percent for the fifth consecutive time....